Passive Mobile Home Park Investing

NEW 2024 Interview with Daniel Weisfield of Three Pillar Communities (who now owns over 10,000 lots!)

8 snips
Jun 4, 2024
Guest
Daniel Weisfield
Daniel Weisfield, third-generation manufactured housing operator and CEO of Three Pillar Communities with a JD/MBA from Yale. He discusses scaling to 70+ communities and 10,000+ residents. Topics include national expansion, capital raising strategies, large value-add turnarounds, ground-up development, vertical integration with in-house dealerships, and regulatory risks facing affordable housing.
Ask episode
AI Snips
Chapters
Books
Transcript
Episode notes
INSIGHT

Higher Rates Shift Emphasis To Value Add

  • Elevated rates pushed Three Pillar toward value-add and development where they can still create returns.
  • Example: $50M Carolina portfolio with 20% vacancy where they deployed $2.5M to add 80 homes, roads, playgrounds and utility fixes.
ANECDOTE

Bozeman Development Turned Alfalfa Into Affordable Homes

  • Bozeman Cameron Crossing went from 90 acres of alfalfa to first homeowner moved in after entitlements, sewer lift station and turn lane work.
  • They price new homes $200k–$270k vs local $600k–$900k single-family market.
ADVICE

Control Sales And Financing For New Home Developments

  • Run a vertically integrated dealership and in-house finance team to control product quality and close buyers.
  • Three Pillar handles home orders, installs, and employs two staff to secure channel financing for buyers.
Get the Snipd Podcast app to discover more snips from this episode
Get the app